Word: bailouts
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...largest bailout in government history unfolded in almost dizzying waves over recent days, a very different view prevailed at the Ayn Rand Center for Individual Rights, an outpost of free-market, anti-government thinking located just a few blocks from the newly aggressive and highly interventionist Department of Treasury in downtown Washington...
Looking across the various levers that Treasury has pulled, Brook was hard pressed to say which bailout was the most egregious in Randian terms, but suggested that the takeover of AIG by Treasury and the Federal Reserve was particularly troubling because there is a chance that the government will actually profit from the selective sale of AIG's assets someday. "The Fed might make a lot of money on the AIG deal," he said. "We're turning the Federal Reserve into a hedge fund...
...Harvard economists had mixed views on the Federal Reserve’s Tuesday bailout of insurer American International Group, Inc., in which the government will effectively take control of AIG with an $85 billion loan...
...economics professor Jeffrey Miron, known for his libertarian views, disagreed, saying that the bailout amounts to “a huge transfer of wealth from the taxpayers to the stakeholders in AIG who made bad bets...
...past couple weeks, a bad investment climate has turned into the worst financial crises in decades, forcing the bankruptcy of a major investment bank, the merger of one more, and a government bailout of Fannie Mae, Freddie Mac, and the American Insurance Group—pillars of American financial markets that have been teetering on the brink of collapse...